Economic value

Millions of pesos 2020 1 2020 2019 %Change 2018 2 %Change
Total revenues 24,782 492,966 506,711 (2.7%) 469,744 7.9%
Income from operations 3 2,086 41,503 47,152 (12.0%) 41,576 13.4%
Operating margin   8.4% 9.3%   8.9%  
Consolidated net income 188 3,756 28,048 (86.6%) 33,079 (15.2%)
Controlling interest net income 4 (98) (1,930) 20,699 (109.3%) 23,990 (13.7%)
Controlling interest earnings per BD unit 5 (0.0) (0.5) 5.8 (108.6%) 6.7 (13.4%)
Controlling interest earnings per ADS 6 (0.3) (5.4) 57.8 (109.3%) 67.0 (13.7%)
EBITDA 3,618 71,973 75,440 (4.6%) 60,458 24.8%
EBITDA margin   14.6% 14.9%   12.9%  
Total assets 34,428 684,848 637,541 7.4% 576,381 10.6%
Total liabilities 18,986 377,661 311,790 21.1% 240,839 29.5%
Total equity 15,442 307,187 325,751 (5.7%) 335,542 (2.9%)
Capital expenditures 1,050 20,893 25,579 (18.3%) 24,266 5.4%
Total cash and cash equivalents 7 5,410 107,624 65,562 64.2% 62,047 5.7%
Short-term debt 443 8,801 16,204 (45.7%) 13,674 18.5%
Long-term debt 9,042 179,864 101,747 76.8% 114,990 (11.5%)
Headcount 8   320,618 314,656 1.9% 297,073 5.9%
  1. U.S. dollar figures are converted from Mexican pesos using the noon-buying rate published by U.S. Federal Reserve Board, which was Ps. 19.8920 per US$1.00 as of December 31, 2020.
  2. Starting on January 1st 2019, the Company adopted IFRS16 “Leases” accounting rule using the modified retrospective method under which the comparative information was not restated.
  3. Company’s key performance indicator.
  4. Represents the net income that is assigned to the controlling shareholders of the entity.
  5. “BD” units, each of which represents one series “B” share, two series “D-B” shares and two series “D-L” shares. Data based on outstanding 2,161,177,770 BD units and 1,417,048,500 B units.
  6. American Depositary Shares, a U.S. dollar-denominated equity share of a foreign-based company available for purchase on an American stock exchange.
  7. Cash consists of non-interest bearing bank deposits and cash equivalents consist principally of short-term bank deposits and fixed rate investments.
  8. Includes headcount from Coca-Cola FEMSA, FEMSA Comercio and Other Businesses of FEMSA.

Total Revenues by
Business Unit

millions of Mexican pesos
Ps. 492,966

Income from Operations 1
by Business Unit

millions of Mexican pesos
Ps. 41,503

by Business Unit

millions of Mexican pesos
Ps. 71,973

Total Assets by
Business Unit

millions of Mexican pesos
Ps. 684,848

Coca-Cola FEMSA    FEMSA Comercio:   Proximity Division    Health Division    Fuel Division    Others *

*  Includes FEMSA Strategic Businesses.

  1. Company’s key performance indicator.
  2. EBITDA defined as Income from operations plus depreciation, amortization and other non-cash items.


The global pandemic in 2020 disrupted the health, mobility, safety, economic and environmental circumstances of our employees, customers, value chain and surrounding communities. Yet FEMSA remained firm in our conviction to continue generating economic and social value. Now, more than ever, is the time to continue pushing for better conditions that will create prosperity, protect our people and preserve our planet. In the following pages we share a few key examples of our efforts to move forward on these objectives in 2020.

Learn more about our performance throughout the rest of this report.











+15,500 sites in Mexico powered with renewable energy

+77.6% of electricity needs in Mexico covered by clean sources, avoiding 721,995 tons of CO2e emissions per year

of Coca-Cola FEMSA’s manufacturing operations powered by clean energy

Affordable and
Clean Energy

Coca-Cola FEMSA received approval from the Science Based Targets Initiative for its 2030 carbon footprint
reduction targets


100% of our beverage manufacturing plants in Mexico have achieved Zero Waste to Landfill certification

50% recycled PET fiber in OXXO store employee uniforms

and Production

+60,000 refrigerators per year – and 90% of their components – repaired, reused or recycled by AlPunto at the end of their useful life

Learn more about our circular economy strategy:

Signatories of the United Nations Global Compact and members of the Tent Partnership for Refugees

+28,000 hours of Ethics training to employees

+436,000 hours of Human Rights training to employees

Gender Equality

Coca-Cola FEMSA included in Bloomberg Gender-Equality Index

Decent Work and
Economic Growth

Coca-Cola FEMSA improved its water-use ratio to reach 1.49 liters of water per liter of beverage produced

of the water used to produce Coca-Cola FEMSA’s beverages returned to the environment in main markets

26 Water Funds launched in 10 Latin American countries

Clean Water and

28,871 people in 195 communities accessing safe water through Lazos de Agua program

3Cs of our health and safety focus:

Prioritized the wellbeing of our 320,000 people

Enhanced in-store hygienic protocols and helped small businesses re-open

Contributed to public-private initiatives and donated essential supplies to our neighbors

Good Health &



We recognize our active role in society as a good and responsible neighbor, investing and connecting with the communities where we have a presence. Here we share some highlights of the most important contributions to social value made by our extended FEMSA family in the fight against COVID-19 during 2020.

Learn more about our impacts this year throughout the rest of this report.

+3.8 million liters of beverages donated in ten countries for frontline healthcare professionals and vulnerable communities


+24,000 vulnerable employees transitioned to work-from-home arrangements

+3.15 million face masks donated to police and security forces

+25,100 kilometers traveled by Solistica to deliver COVID-19 medical supplies

+34,000 food packages delivered to vulnerable communities, equivalent to 340 tons of food and products to cover basic needs

+1,100 advertising spaces used to communicate preventive health measures

+6,700 cans of food and 12,000 face shields donated by Farmacias YZA to health personnel

289 organizations supported through the OXXO’s “Rounding Up” your change program

+8.1 tons of food from our Doña Tota fast-food restaurants donated through the Food Banks of Mexico

+32,000 liters of fuel donated to ambulances of the Mexican Red Cross

+26,000 shopkeepers protected with plexiglass countertop shields

+400,000 plastic face shields designed and manufactured by PTM for donation and sale

+3,000 supplies from our Bara discount format stores donated to hospitals in Guanajuato, Aguascalientes, Jalisco and Querétaro

+650 temporary beds and intensive care units built in the Citibanamex Center in collaboration with our partners in Mexico

1st Mexican-made mechanical respirator designed with engineering expertise from Torrey

+Ps. 90.0 million (US$ 4.5 million) raised to distribute protective equipment to healthcare workers in Mexico


+US$ 32,629 invested in +15,200 biosafety elements donated to hospitals, institutions and vulnerable communities


+US$ 331,000 in donations of medicines, diapers and personal care items


Donation of food to the community


+US$ 37,300 in donations of medicines and personal care items


26,000 PCR COVID-19 tests donated in collaboration with other stakeholders

+500,000 liters of sanitizing alcohol distributed using our logistics network

FEMSA Comercio
Coca-Cola FEMSA
FEMSA Strategic Businesses
FEMSA Foundation